Decreasing Impatience
Theoretical Economics
2022-08-08 v4
Abstract
We characterize decreasing impatience, a common behavioral phenomenon in intertemporal choice. Discount factors that display decreasing impatience are characterized through a convexit y axiom for investments at fixed interest rates. Then we show that they are equivalent to a geometric average of generalized quasi-hype rbolic discount rates. Finally, they emerge through parimutuel preference aggregation of exponential discount factors.
Cite
@article{arxiv.2103.03290,
title = {Decreasing Impatience},
author = {Christopher P. Chambers and Federico Echenique and Alan D. Miller},
journal= {arXiv preprint arXiv:2103.03290},
year = {2022}
}